Medicare Advantage Open Enrollment (MAOEP)
What is the difference between AEP and MAOEP? Medicare Annual Enrollment Period (AEP) is every October 15th through December 7th. This is the time period to enroll in Medicare and/or make any necessary changes for the upcoming new plan year. We often refer to AEP as the Medicare annual review time. Advantage Plan members have a one-time Medicare Advantage Open Enrollment Period (MAOEP) opportunity to make a one-time change at the beginning of every new calendar year. The Medicare Advantage Open Enrollment Period (MAOEP) takes place each year from January 1 through March 31. This period allows individuals who are already enrolled in a Medicare Advantage plan to make a one-time change to their coverage. Here are the key options available during this period:
- Switch to a different Medicare Advantage plan: If you’re not satisfied with your current Medicare Advantage plan, you can switch to another plan that may better meet your needs.
- Return to Original Medicare: If you choose to leave your Medicare Advantage plan, you can return to Original Medicare (Part A and Part B). However, keep in mind that if you return to Original Medicare, underwriting may be required for a Medigap (Medicare Supplement) policy, and you will need to carefully review your prescription drug coverage.
- Enroll in a Part D prescription drug plan: If you return to Original Medicare, you may also sign up for a Part D plan to get prescription drug coverage. Part D is optional, but it’s something to consider if you need drug coverage.
Next Steps to Make a Change
The MAOEP is an important opportunity for individuals to adjust their coverage, so it’s crucial to review your healthcare needs and coverage options before making any changes. If you’re unsure about which option is best for you, click here or call our office at 260-483-2305 to connect with one of our knowledgeable agents at Hartman Insurance Services.
